The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
The most important step is delivering what is needed -- a fairer IPO pricing, notes Debashis Basu.
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
To strengthen corporate governance practices and disclosure requirements, Sebi has notified new rules, including that top 1,000 listed firms will have to formulate a dividend distribution policy. The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and eased norms for re-classification of a promoter as a public shareholder, according to a notification dated May 5. In addition, the regulator has asked listed firms to make available audio and video recordings of analyst and investor meets on their websites as well as stock exchanges within 24 hours or before the next trading day and also notified rules regarding Business Responsibility and Sustainability Report (BSSR).
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
The mishap occurred at the fifth unit of the thermal power station-II (210 MW x 7) when workers were in the process of resuming operations on Wednesday morning.
The rules are being framed to maintain absolute transparency and fair play in investigations.
Perimeter security will be strengthened at army bases under six commands, the sources said.
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
Experts regretted that it has taken too long to deliver justice
The regulator had introduced trading plans to provide an opportunity for those holding possible insider information to legitimately trade, without violating insider trading regulations
World soccer's governing body, FIFA, is expected to pass wide-ranging reforms at a Congress in Zurich next Friday, when a new president will also be elected.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
In his letter to Lok Sabha Speaker Om Birla, Tharoor took strong objection to Dubey's remarks on Twitter that 'the Chairman of Standing Committee does not have the authority to do anything without discussion of the agenda with its members'.
'We are learning from every patient who is admitted, treated and discharged.'
The Enforcement Directorate on Friday said it has issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA). WazirX, registered under the company named Zanmai Labs Pvt Ltd, was incorporated in December, 2017 as a domestic cryptocurrency start-up and its directors Nischal Shetty and Hanuman Mhatre, along with the company, have been named in the notice issued by the central probe agency after completion of investigation. The agency issued a statement saying that it stumbled upon the transactions of the company during an ongoing money laundering probe into the "Chinese-owned" illegal online betting applications.
The ICICI board, which consists 12 members, is divided on whether Kochhar should be on leave during the internal enquiry
CoA chief Vinod Rai has made it clear that the CAC comprising Kapil were 'not conflicted'
Many lay folks cannot fathom the arcane language of the corporate governance brouhaha. I found that a mythological story connects very well, says R Gopalakrishnan.
The ICC Board, at its first meeting of 2016 in Dubai on Wednesday, considered amendments made to the ICC's constitution in 2014 and agreed that, in order to avoid any potential conflicts of interest and follow best practice principles of good governance, it will seek to re-establish as quickly as possible the 'independent' position of ICC chairman.
The SC set aside the 2011 verdict of the Kerala high court which had directed the state to set up a trust to take control of management and assets of the historic Sree Padmanabhaswamy Temple.
The mechanism would also need to have necessary safeguards to protect whistle-blowers from victimisation, while checks would also be required against any misuse of this facility aimed at encouraging directors and employees to report genuine concerns and any wrongdoings at their company.
The Board of Control for Cricket in India's stand with regards to participation in the 2024 Olympic Games in Paris, audit firm Deloitte's presentation on financial irregularities and revision of pay structure in domestic cricket are on the Committee of Administrator's agenda when they meet BCCI's top office-bearers, in New Delhi, on Wednesday.
While auditors have come in for a lot of praise for their proactive stand against what they perceive to be dodgy practices followed by companies, there is still a long way to go, says Shyamal Majumdar.
The panel is believed to have examined each financial transaction between the Kochhar family and Videocon group, and the suspected trail of properties and assets that the family acquired since Chanda Kochar became ICICI Bank's MD.
The apex court also pulled up the Gujarat government for extending the deadline till July next year for hospitals to rectify the building by-laws violations, and said the "carte blanche" notification was in teeth of its order of December 18 last year and people will continue to die in fire incidents.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Tokyo's Olympic 2020 contract allows it to postpone the Games until the end of the year, Japan's Olympics minister said on Tuesday, amid concern the coronavirus could disrupt the event. To curb the coronavirus, Japan's government has asked schools to close and encouraged the curtailment of events, including sports meetings, that could attract large crowds.
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
A division bench of the high court comprising Justices Sanjib Banerjee and Arijit Banerjee, while hearing a public interest litigation, said that no visitors will be allowed to enter the marquees. For small pandals, barricades will have to be put up five metres from the entrance, while for the bigger ones, the distance has to be 10 metres, the court ordered.
Air Commodore J S Dhamoon, who was commanding the Pathankot air force base when it was attacked by heavily armed terrorists last year, has taken pre-mature retirement from service.
FIFA faces more embarrassment after a member of its financial watchdog was arrested on suspicion of corruption and money-laundering in the Cayman Islands.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
The Committee of Administrators (COA) wants BCCI to appoint an Ombudsman and an Ethics Officer at the earliest to deal with any disputes leading up to its much-awaited Annual General Meeting and elections.
There was no casualty in the blaze that erupted on the second floor of Bodeli Dhokalia Public Hospital, the official said, adding that 10 COVID-19 patients undergoing treatment at the facility were shifted to its lower floor and some of them were later admitted to other hospitals.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
A high-powered probe committee set up by Lieutenant Governor Manoj Sinha visited the site and appealed to the general public to share videos, statements or any other evidence about the incident.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
